The G7 Finance Ministers met virtually on October 1, 2025, to provide another round of economic sanctions on Russia. The finance chiefs agreed to support increased Ukrainian defense capacity. The ministers deplored the continued Russian violation of the territorial integrity of the States composing the North Atlantic Alliance, the increasing attacks against other government buildings and against civilians in Ukraine, and elements of violation of the slogan of peace.

Ensuring the Russian war finance escalation

The G7 Finance Ministers reached an understanding to take concerted action to pressure Russia to end its ongoing brutal war against Ukraine, and at the same time help Ukraine in its continued desire to defend itself. Russia’s continued pattern of intensifying acts such as breaching the airspace of the transatlantic alliance while increasing the attacks on civilians and damage to Ukrainian government and diplomatic institutions is shocking and counterproductive to the cause of peace.

Our efforts thus far – such as continued backing for the programmes of the International Monetary Fund in Ukraine as well as for the Extraordinary Revenue Acceleration (ERA) Loans – helped Ukraine to polarise its behaviour against Russia’s aggression; sanctions blocked Russia’s sources of income. “The ministers stand united in their conclusion that coordinated action is needed and should believe that now is the time for a strong concerted increase in activities to reinforce Ukraine’s resilience and to considerably cripple Russia’s ability to wage war on Ukraine.

Fixed assets represent a major defence expenditure in Ukraine

The G7 is working on a plethora of options for how to finance Ukraine and simultaneously ensuring that Russia does not have the time to double down. Among other things, these measures include a concerted way that takes full advantage of the Russian Sovereign Assets immobilized in their jurisdictions to impose on Russia to end the war and achieve a peaceful and lasting settlement in Ukraine.

Strategic sanctions – aim at key market sectors

All ministers are taking bold steps to make the Russian invasion and war operations more expensive from an equity perspective by taking punitive measures on key industries and their backers of the Russian economy, energy, finance, the military industrial base, special economic zones, and enablers and beneficiaries. This will deprive Russia of war arrangements and will put a firm tightener on the financial supply of Russia’s military insurgent ruling elements, and they, as well as violators of such restrictive measures, will soon realize its impact on the lives of ordinary Russians.

The G7 agreed that it is time to put maximum pressure on Russian oil exports as much as possible, which are a massive provider of income in the resource-driven economy of Russia. And where they do, they will choose to target those who are still increasing their purchase of Russian oil after the invasion of Ukraine, and those who are enabling the evasion of existing sanctions.

International coordination strengthens collective response

These measures will put direct pressure on Russia, and with any barred efforts in economic and financial actions, will do more damage. The G7 will work closely with each other and with international partners to ensure that they do not fall into disarray or that effectiveness is lost. The Finance Ministers will reconvene at the IMF/World Bank Annual Meetings on October 15, 2025, in Washington, D.C., to make progress on these efforts in these areas.

Russia’s tools of economic warfare against its military power are still massive in scope, but the coordinated approach of the G7 countries is a welcome aid to motion and the military defense of Ukraine. Through aiming at oil revenues, exploiting frozen assets, and a general embargo on all trade with Russia, the finance ministers demonstrate unparalleled solidarity in their response to the Russian attack.